Covid19 Compliance Updates Newsletter April 2020 by Avantis RegTech

Table of Contents
Commercial
• MNRE amends the Central Public Sector Undertaking (CPSU) scheme Phase-II
• FSSAI issues Food Hygiene and Safety Guidelines for Food Businesses during COVID-19 Pandemic
• FSSAI issues direction allowing FBOs to operate their food business on the basis of application for license or registration
• Ministry of Power notifies that essential operation of power shall continue till May 03, 2020
• FSSAI issues Order to provide grace period for application of renewal of license or registration during lockdown
• CCI issues measures in view of threat of Corona Virus pandemic
• FSSAI extends the timeline for submission of annual and half yearly returns till July 31, 2020
Labour
• PFRDA revises the process of on-boarding of NPS subscribers
• PFRDA stops auto-debit of contributors for Atal Pension Yojana users
• EPFO extends the due date of filing of Electronic Challan Cum Return for the wage month of March 2020
• Frequently Asked Questions on Universal Account number and Know Your Customer
• EPFO implements the PMGKY package for Employee and Employer contribution for three months
• ESIC extends the last date of filing ESI contribution for the month of February
• ESIC issues alternative provision for treatment of ESIC beneficiaries in terms of ESIC hospitals declared as COVID-19 hospitals
• PFRDA permits partial withdrawal towards treatment of COVID-19
• EPFO issues FAQs on EPF advance to fight COVID-19 pandemic
• EPFO revises instructions to facilitate PF members to rectify their Birth records
• Ministry of Home Affairs directs all States and UTs to implement lockdown effectively and mitigate economic hardship to the
migrant workers
• EPFO informs that Government will pay EPF contribution of both employer and employee for the next three months
• MoLE advises all public and private employers to support their employees and workers
• MoLE extends the last date of filing of Unified Annual Returns under 8 Labour Laws for the year 2019
• ESIC extends the ESI-contribution for the period of April, 2019 to September, 2019
• ESIC extends the ESI Contribution for the month of February and March, 2020
Industry Specific,Secretarial
• SEBI extends the due date for regulatory filings and compliance requirements by trading members or clearing members
• SEBI relaxes the time period for activities carried out by the depository participants, stock brokers, share transfer agent or issuer
till May 17, 2020

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Secretarial
• BSE extends the due date of submission of audit report on quarterly basis
• MCA discontinues the Company Affirmation of Readiness towards COVID-19 Form
• MCA issues institutional framework for regulation and development of valuation professionals
• SEBI notifies that capital and debt market services shall remain in force till May 03, 2020
• MCA issues clarification regard to filing under the IEPFA (Accounting, Audit, Transfer and Refund) Rules
• MCA extends the date of submitting the draft Companies (CSR Policy) Amendment Rules, 2020
• MCA issues FAQs on Corporate Social Responsibility expenditure related to COVID-19 activities
• MCA issues clarification on passing of ordinary and special resolutions by companies
• IBBI (Insolvency Professionals) (Amendment) Regulations, 2020
• SEBI grants temporary relaxation in processing of documents pertaining to FPIs
• SEBI issues Circular for continuation of Phase II of Unified Payments Interface with Application Supported by Block
Amount
• MCA announces that contribution made to PM CARES Fund for COVID-19 pandemic is eligible for CSR activity
• SEBI further relaxes from various compliances due to the CoVID-19 virus pandemic
• SEBI extends the due date of filing disclosures under SEBI (SAST) Regulations due to COVID-19 pandemic
• MCA issues measures for companies and LLPs to address the COVID-19 treat
• MCA deployed Company Affirmation of Readiness towards COVID-19 Form
• SEBI grants relaxation from compliance stipulations under SEBI (LODR)
• MCA issues advisory on preventive measure to contain the spread of COVID-19
• MCA announces that Board meetings would be held through video conferencing till June 30, 2020
Industry Specific
• Ministry of Finance further extends the due date for renewal of health insurance policy installment
• Ministry of Finance further extends the due date for renewal of motor vehicle third party insurance policy installment
• IRDAI advised insurers for prudent management of financial resources of the insurers
• Ministry of Steel informs about the action taken or status of implementation of proactive measures relating to COVID-19
• NHB extends the due date for submission of various returns to the Department of Supervision
• UGC issues measure for mental health, psychosocial aspects and well-being of students
• IRDAI issues moratorium on repayment of term loans
• MNRE extends the effective dates for Solar PV modules and Cells
• AICTE issues Notification related to non-payment of salary of faculty
• IRDAI extends the due date of filing of Regulatory Returns by 30 days
• IRDAI issues additional time allowed for filing Regulatory Returns
• IRDAI issues additional period for life insurance policies
• IRDAI relaxes the premium payment for renewal of motor third party insurance polices
• Ministry of Finance publishes the Insurance (Amendment) Rules, 2020
• Ministry of Finance extends the payment date for renewal of motor vehicle third party insurance policies
• Pradhan Mantri Garib Kalyan Package: Insurance Scheme for health workers fighting COVID-19
• SEBI grants relaxation from compliance with certain provisions under SEBI (CRA) Regulations, 1999
• SEBI extends the due date for regulatory filings for AIFs and VCFs due to COVID-19 pandemic
• RBI issues certain regulatory measures on account of COVID-19
• Ministry of Health and Family Welfare allows retail sale of drugs to the doorstep of consumers
• Ministry of Home Affairs issues Standard Operating Procedure for maintaining supply of Essential Goods
• Ministry of Health and Family Welfare restricts the sale and distribution of the drug Hydroxychloroquine
• AICTE issues Circular for all the institutions regarding the Novel Coronavirus
• IRDAI issues guidelines on handling of claims reported under Corona Virus

Finance & Taxation
• CBIC clarifies issues in respect of challenges faced by registered persons in implementation of provisions of GST issued
• CBIC exempts customs duty on ventilators, personal protection equipments, covid-19 testing kits and inputs for these
goods
• CBIC introduces Special Refund and Drawback Disposal Drive
• RBI permits remittance to the PM-CARES Fund
• DGFT clarifies on retrospective issuance of Certificates of Origin under India’s Trade Agreements
• CBIC extends the due date of furnishing FORM GST CMP-08 for the quarter ending March, 2020 and filing FORM
GSTR-4 for FY 2020-21
• CBIC clarifies in respect of various measures announced for providing relief to the taxpayers in view of spread of Novel
Corona Virus (COVID-19)
• CBIC provides relaxation from submitting bonds till April 30, 2020 under various provisions of the Customs Act, 1962
• DGFT restricts the export of Diagnostic Kits
• CBIC provides relief by conditional waiver of late fee for delay in furnishing outward statement in FORM GSTR-1 for tax
periods of February, 2020 to April, 2020
• DGFT informs that export of Hydroxychloroquine and formulations made from Hydroxychloroquine will remain prohibited
• Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020
• DGFT directs authorised agencies to issue Certificates of Origin retrospectively
• DGFT instructs Local Users to accept scanned copies of pre-registration application and other documents under EUGSP
• RBI advises the banks to convert the existing Short Term Crop Loans into KCC loans by June 30, 2020
• DGFT restricts the export of Hydroxychoroquine and formulations made from Hydroxychloroquine
• RBI issues statement on Developmental and Regulatory Policies to address COVID-19
• DGFT prohibits the export of all ventilators, Surgical or Disposable Masks and Textile raw material for masks
• DGFT informs about the steps taken by Department of Financial Services (DFS) with regard to Disruption on account of
Corona Virus
EHS
• Ministry of Home Affairs issues revised consolidated Guidelines regarding COVID-19
• Ministry of Home Affairs issues consolidates Guidelines on the measures to be taken by the Authorities for containment of
COVID-19 Epidemic
• Ministry of Home Affairs orders to Ministries or States or Union Territories to allow fishing operations to be open
• CPCB facilitates the operation of CBWTFs as an essential service under health Infrastructure
• CPCB issues guidelines for handling, treatment and disposal of waste generated during treatment of COVID-19 patients
Finance & Taxation,Labour
• ESIC issues Circular regarding contribution to PM CARES to fight COVID-19
Industry Specific,Labour
• Directorate General of Mines Safety relaxes from the submission of returns, notices and other forms under Mines Act,
1952

Delhi
• Government of Delhi issues prohibitory orders to prevent the spread of COVID-19
• DERC issued directions for Electricity distribution licensees
• Government of Delhi awards compensation to family of employees who die of COVID 19 disease
• Government of Delhi mandates wearing of masks
• Government of Delhi notifies Lockdown in the whole of territorial jurisdiction of NCT of Delhi till March 31, 2020
• Government Delhi issues directions to prevent the spread of COVID-19
• Government of Delhi issues Directions for the purpose of surveillance, prevention and control of COVID-19
• Government of Delhi publishes the Delhi Epidemic Diseases, COVID – 19 Regulations, 2020
Rajasthan
• The Rajasthan Essential Articles (Declaration of Godown) Order, 2020
• Rajasthan SPCB extends the storage period of hazardous wastes beyond 90 days
Tripura
• Government of Tripura issues advisories for Factory Managements during the period of lockdown
• Government of Tripura issues advisory to Brick Kilns and Tea Estates
• Government of Tripura issues protective measures for migrant workers
• Tripura Government issues COVID-19 Emergency Relief Scheme for Building and Other Constructions Workers
Uttarakhand
• Government of Uttarakhand exempts Established Registered Boilers whose certificates have expired during the lockdown
• Government of Uttarakhand suspends the operations of Shopping Malls
Telangana
• Government of Telangana exempts the boilers from the provisions of Boilers Act, 1923
• Government of Telangana declares paid holiday for Shops and Establishments during lockdown
• Government of Telangana notifies lockdown till March 31, 2020
Madhya Pradesh
• Madhya Pradesh Electricity Regulatory Commission reduces rate of Late Payment Surcharge
Punjab
• Punjab PCB notifies imposes Special Condition to in-house treatment and dispose of solid waste
• Punjab PCB extends the validity period of consent to establish till June 30, 2020
• Punjab Health and Family Welfare Department notifies lockdown till March 31, 2020
Orissa
• Government of Odisha publishes the Odisha the Epidemic Diseases (Amendment) Ordinance, 2020
• Government of Odisha allows unhindered movements of Goods Transport Vehicle Opening of Dhabas
• Government of Odisha directs immediate stoppage of construction work
• Government of Odisha facilitate supply of essential commodities
• Government of Odisha includes steel plants and mines as essential services
• Government of Odisha suspends the intra-state bus movements and city bus services in all urban local bodies
• Odisha Health and Family Welfare Department notifies the lockdown till March 29, 2020

Gujarat
• GERC extends the time limit for payment of Annual License Fee for FY 2020-21
• Government of Gujarat issues advisory regarding labour payment to unorganized sector
Haryana
• Government of Haryana issues parameters and methodology for subsistence financial assistance to industrial labourer
• Government of Haryana provides subsistence financial assistance to the construction workers
• Haryana Labour Department issues Guidelines to the management of factories or establishments
• Haryana Labour Department advises the employers or owners of Private Establishments not to terminate the services of
their employees or reduce their wages
• Government of Haryana notifies lockdown till March 31, 2020
• Government of Haryana issues Guidelines to the Management of Factory or Establishments
• Government of Haryana directs all Cinema Halls, Gyms and Night Clubs to be closed till March 31, 2020
• Government of Haryana issues advisory for Malls to prevent spread of COVID-19
• Government of Haryana issues advisory for all Government offices of all Departments to prevent spread of COVID-19
Andhra Pradesh
• Government of Andhra Pradesh extends the time limit for submission of applications for further period of 3 months under
the AP Regularisation of unapproved Layouts and Plots Rules, 2020
• Andhra Pradesh Health, Medical and Family Welfare Department issues measures to allay the hardships faced by various
sections of the society during COVID-19
• Government of Andhra Pradesh lock down the State till March 31, 2020 to prevent the spread of COVID-19
• Andhra Pradesh Epidemic Diseases, COVID – 19 Regulations, 2020
Tamil Nadu
• TNPCB extends the validity period of consent to operate till June 30, 2020
• Tamil Nadu Health and Family Welfare Department publishes the Tamil Nadu COVID-19 Regulations, 2020
Maharashtra
• Government of Maharashtra orders not to reduce wages or wages of homeless/displaced workers and foreign workers
trapped during the Lockdown period
• Government of Maharashtra notifies lockdown in the entire State till March 31, 2020
• Government of Maharashtra exempts from payment of late fees under the Maharashtra State Tax on Professions, Trades,
Callings and Employments Act, 1975
• District Collector of Pune directs all shopping malls and other shops to be closed till March 31, 2020
• District Collector of Pune requests IT Companies to allow work from home facility
• Maharashtra Public Health Department publishes the Maharashtra COVID-19 Regulations, 2020
Assam
• Government of Assam issues Directions to the factory management
• Government of Assam issues Guidelines to the Factory Management
Manipur
• Government of Manipur notifies lockdown till March 31, 2020

Andaman and Nicobar Islands
• Andaman and Nicobar issues corrigendum to order related to partial lockdown
• Andaman and Nicobar issues directions to prevent the spread of COVID-19
• Andaman and Nicobar restrict the entry till March 31, 2020 to prevent the spread of COVID-19
Kerala
• Government of Kerala notifies lockdown till March 31, 2020
Mizoram
• Government of Mizoram notifies partial lockdown till March 29, 2020
Karnataka
• Government of Karnataka notifies various restrictions till April 01, 2020 during lockdown
Jammu Kashmir
• Government of Jammu and Kashmir notifies lockdown till March 31, 2020
Pondicherry
• Government of Puducherry notifies lockdown till March 31, 2020
West Bengal
• Government of West Bengal notifies Complete Safety Restrictions to stop spread of COVID-19
• Government of West Bengal prohibits non-essential movement to prohibits the spread of COVID-19
Bihar
• Bihar Health Department publishes the Bihar Epidemic COVID-19 Regulation, 2020

Commercial
MNRE amends the Central Public Sector Undertaking (CPSU) scheme Phase-II
Apr 17, 2020 | Central | Commercial
The Ministry of New and Renewable Energy (MNRE) on April 13, 2020, has decided to implement the
Central Public Sector Undertaking (CPSU) scheme Phase-II (Government Producer Scheme). Thus, it is
decided to amend the Order No. 302/4/2017-GRID SOLAR dated March 05, 2019 with respect to Order
for Scheme Guidelines for Central Public Sector Undertaking (CPSU) scheme Phase-II. The CPSU
Scheme Phase-II is aimed at setting up 12,000 MW Photovoltaic solar grid power projects under the
government producers with Validity Gap Funding (VGF) support for self-use or use by government entities
directly or through distribution companies (DISCOM).
The amendments are as follows:-
s The maximum usage charges are reduced from Rs. 3.5/unit to Rs. 2.80/unit, exclusive of any other
third-party charges like wheeling and transmission charges and losses, point of connection charges and
losses, cross-subsidy surcharge, State Load Dispatch Centre or Regional Load Dispatch Centre charges
etc.
s The Indian Renewable Energy Development Agency Limited (IREDA) has been appointed as
implementing agency to handle CPSU Scheme Phase-II to conduct the bidding for allocation of Solar
power project capacity under the Scheme with VGF amount as a bid parameter to select the project
proponents. The maximum permissible VGF amount will be reviewed time to time by MNRE.
s IRDEA will be responsible for dealing with all issues regarding time-extension and dispute resolution.
s The timeline for project commissioning seeking to the solar power project has been amended:
• For project upto 500 MW capacity are required to be commissioned within 24 months from the date
of letter of award; and
• For project more than 500 MW capacity are required to be commissioned within 24 months from the
date of letter of award and balance capacity to be commissioned within next 6 months.
s The IREDA shall be permitted to allot or sanction solar photovoltaic power project capacities upto 50
MW to any willing Government entity at the L1 rate within 4 months of such last bidding, without the need
for such entity to participate in bids.
View the Document

FSSAI issues Food Hygiene and Safety Guidelines for Food Businesses during
COVID-19 Pandemic
The Food Safety and Standards Authority of India (FSSAI) on April 15, 2020, issues the Food Hygiene
and Safety Guidelines for Food Businesses during the outbreak of COVID-19 Pandemic. FSSAI had
issued primarily measures to ensure safe, clean and wholesome food which is indispensable to the health
and welfare of consumers. FSSAI has found it necessary looking at the current scenario which demands
implementation of some additional focussed measures mainly to prevent human-to human spread of the
disease in food business operations and also to reduce the likelihood of contamination of various
materials in contact with food such as equipment, packaging materials etc.
Thus, FSSAI has developed a detailed guidance on specific measures that can be taken by various types
of food businesses in addition to those specified in the Schedule IV of FSS (Licensing and Registration of
Food Businesses) Regulations 2011, to prevent spread of COVID-19. It includes maintenance of high
levels of personal hygiene; practicing social distancing; and appropriate cleaning or sanitization of the
food operations’ premises, food contact materials etc. The document is primarily intended for all types of
food businesses including food service, transport and retail operations.
View the Document

FSSAI issues direction allowing FBOs to operate their food business on the basis of
application for license or registration
The Food Safety and Standards Authority of India (FSSAI) has issued a direction allowing Food Business
Operators (FBOs) other than Manufacturers to temporary operate their food business on the basis of valid
receipt of license or registration during the period of lockdown across the country due to COVID-19
pandemic.
The FBOs are required to apply for FSSAI license or registration by making online applications having
17-digit Application reference Number (ARN) generated on Food Licensing and Registration System
(FLRS) along with the prescribed fee. FBOs shall inform the concerned authority about commencing his
food business by email enclosing the scanned copy of the application. In case the application is rejected
by the licensing or registration authority, FBO shall immediately stop all his food business activities.
This said permission is available to only those applicants who are allowed to operate in the lockdown. The
FBOs shall cease his operation on food at the premises within 30 days after lockdown ends, unless he
has obtained a valid license or registration. The permission shall be limited to the respective State or
Union Territory only. The State Government may restrict permission to certain kind of business or food
categories depending upon the need during the lockdown.
FSSAI has further clarified that this permission is not for FBOs applying for FSSAI license or registration
for manufacturer kind of business. The commissioners of the Food Safety are advised to supervise the
scheme in public interest during the lockdown period and at the same time cease operations within 30
days from the end of lockdown period.
Thus, it is concluded that the FBOs applying for FSSAI license or Registration for kind of businesses other
than manufacturers are allowed to temporarily operated their food business immediately after submission
of their application for license or registration during the lockdown period.
[Order No. 15(6)2020/FLRS/RCD/FSSAI]
View the Document

Ministry of Power notifies that essential operation of power shall continue till May 03,
2020
The Ministry of Power on April 15, 2020, has notified that the essential operation of power generation
utilities and permission for material movement shall continue throughout the extended lockdown period
upto May 03, 2020 for smooth operation and maintenance of power generation facilities. The Ministry vide
its letter date March 23, 2020 and March 28, 2020, had decided that no restrictions shall be imposed on
production and movement of critical materials like coal, chemicals, gases etc. and intermediate or finished
products to or from such power plants to extend their support for uninterrupted operations of inter-state
power generating stations.
Now, the Ministry of Home Affairs had extended the duration of lockdown till May 03, 2020 to contain
COVID-19 pandemic in the country, so the stakeholders are directed to continue their support during the
extended lockdown period for smooth operation.
[Notice No. 11/14/2020-Th-II]
View the Document
FSSAI issues Order to provide grace period for application of renewal of license or
registration during lockdown
The Food Safety and Standards Authority of India (FSSAI) on April 13, 2020, has decided to provide a
grace period for application of renewal of license and registration expired or expiring during the period
from March 22, 2020 to May 31, 2020 during lockdown period due to COVID-19 pandemic. The Food
Business Operators (FBOs) were finding difficulty while filing the applications for renewal of licences or
registrations, where were usually filed with the help of State helpdesks, authorities or consultants.
Thus, the followings have been decided by FSSAI:-
s A grace period for renewal of license or registration expiring in between March 22, 2020 and May 31,
2020 has been given till June 30, 2020 without any late fee.
s For the Union territories of Jammu & Kashmir and Ladakh, the FBOs are given a grace period for
renewal of license or registration expiring during the period of August 01, 2019 to May 31, 2020 till June
30, 2020 without late fee.
[FSSAI Order No. 15(6)2020/FLRS/RCD/FSSAI]
View the Document

CCI issues measures in view of threat of Corona Virus pandemic
The Competition Commission of India (CCI) on April 13, 2020, has issued the measures in view of threat
of Corona Virus pandemic.
The measures are in continuation of the Public Notices issued on March 23, 2020 (suspends all filings,
submission and proceedings until March 31, 2020) and March 30, 2020 (Office of CCI remain closed till
April 14, 2020) with respect to “Measures in view of threat of Corona Virus / COVID-19 pandemic”.
CCI made following additional arrangements, viz.:
(a) Information with respect to Anti-competitive agreements and abuse of dominant position may be filed
electronically at atdregistry@cci.gov.in;
(b) Combination notices may be filed electronically at comb.registry@cci.gov.in;
(c) The fee in respect of above fillings will be paid through Electronic Clearance Service by direct
remittance to Competition Fund, Account No. 1988002100187687 with Punjab National Bank, Bhikaji
Cama Place, New Delhi – 110066. Dated for filing hard copies will be notified in due course.
(d) Parties to combination may avail pre-filing consultation (PFC) through video conference. For PFC
parties should request at cco-consult@nic.in.
(e) The Commission would try to process the new and pending cases and for all matters listed for hearing
upto April 20, 2020 will be notified fresh dates.
(f) For all compliances due upto April 20, 2020 fresh dates will be notified.
View the Document

FSSAI extends the timeline for submission of annual and half yearly returns till July 31,
2020
The Food Safety and Standards Authority of India (FSSAI), on April 11, 2020, has decided to extend the
timeline for submission of annual and half yearly returns due to the outbreak of COVID-19 pandemic and
considering the current lockdown for the situation. All the licensed Food Business Operators (FBOs)
involved in relabellers, repackers and importers are required to submit annual return of their food
businesses in Form D-1 by May 31, 2020 and the FBOs involved in manufacturing and processing of milk
and milk products are required to submit half-yearly return in the Form D2 within one month of the end of
the preceding half-year.
Considering the lockdown due to COVID-19 pandemic, the timeline for submission of annual return for the
Financial year 2019-2020 and half-yearly returns for October, 2019 to March, 2020 has been extended till
July 31, 2020. The FBOs shall send their returns through email or physical copies to concerned licensing
authorities.
[FSSAI Letter No. 15(6)2020/FLRS/RCD/FSSAI]
View the Document

Labour
PFRDA revises the process of on-boarding of NPS subscribers
Apr 16, 2020 | Central | Labour
The Pension Fund Regulatory and Development Authority (PFRDA) on April 13, 2020, has decided to
extend the timeline for completion of documentation with Central Record keeping Agencies (CRAs). It has
revises the process of on-boarding of NPS subscriber through Online PRAN Generation Module (OPGM)
and freezing norms to streamline the irregular accounts which requires verified documentations.
Thus, following changes are made:-
1) No new account shall be opened by CRA without photo and signature.
2) CRA shall not facilitate corporates or POPs to open such accounts.
3) CRAs shall provide facility for uploading photo and signature online in the accounts, where photo and
signature is not updated.
4) There shall be no change in the status of e-NPS accounts.
5) All other PRANs, barring the e-NPS accounts opened till date including those opened in the current
Quarter (April to June 2020) shall continue to remain in ‘Active’ status and considering the prevailing
lockdown situation, shall be allowed to complete the pending documentation till July 30, 2020.
6) The accounts without the minimum annual contribution of Rs. 1000/- in the Financial 2019-2020 shall
be kept in frozen status till the required contributions are made either through POPs or through e-NPS.
This Circular shall come into effect from April 20, 2020.
[PRFDA Circular No. PFRDA/2020/9/SUP-CRA/2]
View the Document

PFRDA stops auto-debit of contributors for Atal Pension Yojana users
The Pension Fund Regulatory and Development Authority (PFRDA) on April 11, 2020, has decided to
stop auto-debiting savings account of the subscribers for Atal Pension Yojana (APY) contribution due to
the outbreak of COVID-19 pandemic. The majority of APY subscribers belong to the lower strata of the
society and suffer the most during the lock-down.
Thus, it has been decided by the competent authority to stop auto-debiting savings account of the
subscribers for APY contribution amount with immediate effect till June 30, 2020. It has been also
clarified that no penal interest will be charged to the APY subscribers if they regularize their APY accounts
by depositing such non-deducted APY contributions along with regular APY contributions between July
01, 2020 and September 30, 2020.
[Circular No: PFRDA/2020/8/P&D-APY/1]
View the Document
EPFO extends the due date of filing of Electronic Challan Cum Return for the wage
month of March 2020
The Employees’ Provident Fund Organisation (EPFO) on April 15, 2020, has extended the due date of
payment of contributions, administrative charges and inspection charges. Due to the sudden outbreak of
COVID-19 pandemic, the authority has decided to allow grace period of 30 days that is from April 14,
2020 to May 15, 2020, for filing of Electronic Challan Cum Return (ECR) to the employers of those
establishments which have disbursed the wages for March, 2020 to their employees.
The employers need to file ECR for the wage month of March 2020 on or before May 15, 2020 by
declaring actual date of disbursement of wages for March 2020 in the column of ‘Salary disbursal date’ in
the ECR and remit the contributions and inspection charges on or before May 15, 2020.
[Circular No. C-I/Misc./2019-20/Vol.ll./Part./9]
View the Document

Frequently Asked Questions on Universal Account number and Know Your Customer
The Employees’ Provident Fund Organisation (EPFO) on April 13, 2020, issues Frequently Asked
Questions on Universal Account number (UAN) and Know Your Customer (KYC).
The Questions are as under:
1. What is Universal Account Number (UAN)?
2. What is KYC?
3. How can the employer generate UAN for newly joined employees not having UAN?
4. How can an employee generate his UAN on his own?
5. How can a member know his UAN?
6. How can a member activate his UAN?
7. Can one mobile number be linked with multiple UANs?
8. How to activate UAN via offline mode?
9. Can contractual employees register their UAN and avail online facilities?
10. In which format I should create my UAN password?
11. What can I do if my UAN is not seeded with aadhaar?
12. My UAN was generated during the initial days of after launch of UAN facility. My employer erroneously
linked it with wrong Aadhar number. How can I correct the same?
13. How can I seed my KYC details with UAN?
14. How can I seed my Bank account details?
15. Can I change my already seeded Bank account number?
16. What precautions should I take while seeding Bank account number?
17. I have changed my job. Should I activate my UAN again?
18. Do I have to pay any fee for UAN registration?
19. Can I activate UAN through SMS or mobile app?
20. What are the documents required for change in Date of Birth of EPF members?
21. What are the facilities given to members through UAN driven Member Portal?
22. Do I need to upload documents on the EPFO Portal?
23. What are the minimum details which are required to be linked with UAN for availing online services?

24. Is linking PAN with UAN beneficial for availing online services?
25. My name is same in PAN card and Aadhaar card but I am not able to link it with my UAN
26. What to do if my employer is not approving KYC?
27. How do I know that KYC updated by me is approved by the employer?
28. My employer erroneously entered wrong PAN and Bank account details?
29. My employer has not updated my date of exit despite lapse of two months after leaving job. How can I
update my date of exit?
30. How to change my UAN linked mobile number?
31. Can I apply online claim if my mobile is not linked with Aadhaar?
32. What to do if my Aadhaar is not linked with mobile?
33. What to do if I forgot my password?
34. What to do if I forgot my password and my registered mobile with UAN has also changed?
35. What is to be done in case I change the job and join somewhere else?
36. Which claims that can be filed online?
37. How can I view/download my passbook?
38. How can I view/download my UAN card?
39. I am not able to see the Passbook or Passbook is not available?
40. Two UAN allotted to me. What should I do?
41. Why I am not able to link / list previous member IDs pertaining to me?
42. How to change Name and DOB in EPFO records as per Aadhaar Card?
View the Document

EPFO implements the PMGKY package for Employee and Employer contribution for
three months
The Employees’ Provident Fund Organisation (EPFO) on April 10, 2020, implement the Pradhan Mantri
Garib Kalyan Yojana (PMGKY) for credit of employer’s and employee’s contributions (24% of wages) for
three months.
As per the PMGKY package, EPFO will pay 24% of the monthly wages into EPF account for next three
months of Wage earners below Rupees 15, 000/- per month, who are employed in establishments having
up to one hundred employees, wit 90% or more of such employees earning monthly wages less than Rs,
15,000/-.
On the basis of data furnished by establishments in the Electronic Challan cum Returns (ECR), a list of
probable eligible establishments has been drawn. However, eligibility of these or any establishment is
liable is liable to be validated once the employer disburses the wages to the employees and uploads
ONLY valid ECR for each of the wage months _ March 2020 April 2020 and May 2020 with the required
certification and undertaking as per the Scheme guidelines.
[Circular No. C-I/Misc./2019-20/Vol.II/Part]
View the Document
ESIC extends the last date of filing ESI contribution for the month of February
The Employees’ State Insurance Corporation (ESIC) on April 13, 2020, has issued a Notice in order to
extend the last date to file the contribution for the month of February due to the outbreak of COVID-19
pandemic and lockdown in the country.
Therefore, Regulation 26 related to “Return of contributions to be sent to appropriate office” and
Regulation 31 related to “Time for payment of contribution” of the Employees’ State Insurance (General)
Regulations, 1950 have been relaxed, stating that the time limit for payment of contribution shall be 75
days instead of 45 days for the contribution for the month of February 2020 only.
Thus, the ESI contribution for the month of February can be filed and paid up to May 15, 2020 instead of
April 15, 2020.
[Notice No. P-11/14/Misc./1/2019-Rev.]
View the Document

ESIC issues alternative provision for treatment of ESIC beneficiaries in terms of ESIC
hospitals declared as COVID-19 hospitals
The Employees’ State Insurance Corporation (ESIC) on April 08, 2020, issues alternative provision for
secondary or SST treatment to ESIC beneficiaries in terms of ESIC Hospitals declared as dedicated
Covid-19 Hospitals.
The ESIC beneficiaries seeking non-Covid medical services will be provided services through Tie-up
Hospitals as under:-
1. ESIC beneficiary may be referred by ESIC/ESIS Dispensary to Tie-up Hospital for providing prescribed
secondary/SST consultation/admission/investigation.
2. ESIC beneficiary may also seek Emergency/non Emergency medical treatment from Tie-up Hospital
directly without referral letter.
3. ESIC beneficiaries may be provided prescribed/required treatment by Tie-up Hospital if the same is
available in the Hospital even if no ESIC tie-up exist for that specific treatment/procedure. In such case,
details of such patients including complete diagnosis should be immediately emailed to concerned MS for
information.
4. A separate record is to be maintained by concerned Tie-up Hospital for all such cases. The tie-up
hospital shall raise bills of all such patients after treatment and send to concerned ESIC hospital for
payment.
[Circular No. PT No. A/48/15/3/2017 Med-1]
View the Document

PFRDA permits partial withdrawal towards treatment of COVID-19
The Pension Fund Regulatory and Development Authority (PFRDA) on April 09, 2020, has declared that
partial withdrawals shall be permitted towards the treatment of COVID-19, a critical illness which is life
threatening in nature.
In continuation to the applicability and handling of partial withdrawals referred under circular no.
PFRDA/2018/47/Reg-Exit/4 dated May 24, 2018, it shall be permitted to fulfil financial needs of the
subscribers, if required to him/her against the request placed for partial withdrawals towards treatment of
illness of subscriber, his legally wedded spouse, children, including a legally adopted child or dependent
parents. The other terms and conditions as prescribed under regulation 8 of the PFRDA(Exits and
withdrawals under NPS) Regulations, 2015 and amendments thereto shall continue to be applicable
regarding defining of limits and frequencies.
The subscriber must have the valid Medical Certificate and formal request for partial withdrawal before
authorising partial withdrawals to Nodal Office or PoPs or Aggregators.
[Circular No. PFRDA/2020/7/REG-EXIT/1]
View the Document

EPFO issues FAQs on EPF advance to fight COVID-19 pandemic
The Employees’ Provident Fund Organisation (EPFO) on April 04, 2020, issues frequently asked
questions on EPF advance to fight Covid-19 pandemic.
The FAQs are as under:
1. Who is eligible for the advance from EPF to fight COVID-19 Pandemic?
2. Under which provision of the EPF Scheme, 1952, a member is entitled for benefit?
3. What is the new beneficial provision?
4. How can I know whether establishment/factory in which I am employed is in an area declared to be
affected by COVID-19 pandemic?
5. Is EPF member required to produce any certificate or document for availing this advance?
6. How much money can I get from my EPF account under this new provision to fight COVID-19 and do I
have to refund it?
7. Please illustrate the calculation of benefits
8. How can I claim this amount? Do I need to submit claim form to EPFO Office?
9. Where and how can I file Online Claim?
10. Can I file claim through my mobile phone?
11. Can an employee working in an exempted establishment get the advance to fight COVID-19
pandemic from PF Trust?
12. I availed advance recently for illness. Can I avail advance to fight COVID-19 pandemic?
13. What is income tax rate for advance to fight COVID-19 pandemic?
14. I have already applied advance for a different purpose and requested a lower amount. I do not want to
avail this advance now and would like to prefer claim for advance to fight COVID-19 pandemic. However,
it is not permitted by the portal. What should I do?
15. How long will it take for credit of amount in my bank account after submission of claim for advance to
fight COVID-19 pandemic?
16. KYC is not complete for my EPF account and hence I am unable to file this claim.
17. Is it necessary to apply for 75% of PF balance under this provision?
18. I have applied for availing advance under ‘Natural Calamity’ purpose. Will this be treated as advance
to fight COVID-19 pandemic?
19. Will EPFO process advance to fight COVID-19 pandemic despite lockdown?
20. I have not left my job. Can I withdraw PF to fight COVID-19?

View the Document
EPFO revises instructions to facilitate PF members to rectify their Birth records
The Employees’ Provident Fund Organisation (EPFO) on April 05, 2020, has revised the instructions to
facilitate Provident Fund members to rectify their Birth records in EPFO records, thus ensuring that their
Universal Account Number (UAN) is Know Your Customer (KYC) compliant.
Therefore, as per revised instructions, date of birth recorded in 'Aadhaar' will now be accepted as
valid proof of date of birth for the purpose of rectification, provided that the difference in the two dates is
less than 3 years. The PF subscribers can submit the correction requests online. This will enable EPFO to
validate the date of birth of members online with Unique Identification Authority of India (UIDAI)
instantaneously.
EPFO revises the instructions due to the spread of COVID-19 pandemic.
[Release ID :201019]
View the Document

Ministry of Home Affairs directs all States and UTs to implement lockdown effectively
and mitigate economic hardship to the migrant workers
The Ministry of Home Affairs on March 29, 2020, directs all States and Union Territory Governments and
authorities to take necessary action and to issue necessary orders for effective implementation of
lockdown and mitigate economic hardship to the migrant members.
The following measures are as under:
i. There should be adequate arrangements of temporary shelters and food for the poor and needy people,
including migrant labourers.
ii. The migrant people, who have moved out to reach their home states or home towns, must be kept in
the nearest shelter with quarantine facilities after proper screening for a minimum period of 14 days.
iii. All the employers of the industry or shops and commercial establishments will make payment of wages
of their workers without any deduction during the lockdown period.
iv. Landlords shall not demand payment of rent for a period of one month from the workers including the
migrants who are living in rented accommodation.
v. If any landlord is forcing labourers and students to vacate their premises, they will be liable under the
Disaster Management Act, 2005.
Further, in case of violation of any of the above measures, the respective State or UT Government, will
take necessary action under the Disaster Management Act, 2005.
View the Document
EPFO informs that Government will pay EPF contribution of both employer and
employee for the next three months
The Employees’ Provident Fund Organisation (EPFO) informs that the Government of India will pay EPF
contribution of both employer and employee (12 percent each) for the next three months so that nobody
suffers due to loss of continuity in the EPFO contribution. This is for those establishments that have
upto 100 employee and 90 percent of whom earn under Rs. 15,000 monthly wage.
This will benefit about 80 Lakh employees and incentivize about 4 Lakh establishments to continue their
employees on their Payrolls despite disruption.
View the Document

MoLE advises all public and private employers to support their employees and workers
Mar 26, 2020 | Central | Labour
The Ministry of Labour and Employment (MoLE) on March 20, 2020, advises all public and private
employers to extend their coordination by not terminating their employees, particularly casual or
contractual workers from job or reduce their wages.
If any workers take leave, he should be deemed to be on duty without any consequential deduction in
wages for this period. Further, if the place of employment is to be made non-operational due to
COVID-19, the employees of such unit will be deemed to be on duty.
The termination of employee from the job or reduction in wages in this scenario would further deepen the
crises and will not only weaken the financial condition of the employee but also hamper their morale to
combat their fight with this epidemic.
[D.O. No.M-11011/08/2020-Media]
View the Document
MoLE extends the last date of filing of Unified Annual Returns under 8 Labour Laws for
the year 2019
The Ministry of Labour and Employment (MoLE) on March 20, 2020 extends the last date of filing of
Unified Annual Returns under 8 Labour Laws for the year 2019 upto April 30, 2020.
The filing of Unified Annual Returns for the year 2019 under 8 Labour Laws namely:
1. Payment of Wages Act, 1936,
2. Minimum Wages Act, 1948,
3. Maternity Benefit Act, 1961,
4. Payment of Bonus Act, 1965,
5. Industrial Disputes Act, 1947,
6. Contract Labour (Regulation and Abolition) Act, 1970,
7. Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979, and
8. Building and Other Construction Workers (Regulation of Employment and Condition of Service)
(BOCW) Act, 1996, were to be filed from January 01 to February 01, 2020.
In view of the spread of Novel Corona Virus, the last date of filing of Annual Returns for the year 2019
is extended upto April 30, 2020. Therefore, MoLE requested authorities not to take any legal action for
non-filing of Annual Returns for the year 2019 against the establishments.
View the Document

ESIC extends the ESI-contribution for the period of April, 2019 to September, 2019
The Employees State Insurance Corporation (ESIC) on March 18, 2020, gives one-time relaxation to
those employers who did not file ESI contribution for the period of April, 2019 to September, 2019 within
42 days under the Employees’ State Insurance (General) Regulations, 1950. ESIC had noticed that the
employers are facing problems while filing ESI contribution for the period April, 2019 to September, 2019.
Thus, the employers who did not file ESI contribution for the above mentioned period, are allowed to file
this contribution up to May 15, 2020. It is further clarified that no further relaxation in limitation for other
contribution period is allowed, as it is not extended to other older or new contribution period.
[Circular No. p-11/12/Misc./SST Misuse/2019-Rev. II]
View the Document
ESIC extends the ESI Contribution for the month of February and March, 2020
The Employees’ State Insurance Corporation (ESIC) on March 16, 2020, has extended the date of filing
and payment of ESI Contribution for the month of February 2020 and March 2020 up to April 15, 2020
and May 15, 2020.
Therefore, the proviso of Regulation 31 of the Employees’ State Insurance (General) Regulations, 1950,
which specifies the time for payment of the contribution, will be read as 45 days instead of 15 days for the
contribution payable for the month of February and March 2020 only.
[Notice No. P-11/14/Misc./1/2019-Rev]
View the Document

Industry Specific,Secretarial
SEBI extends the due date for regulatory filings and compliance requirements by
trading members or clearing members
Apr 16, 2020 | Central | Industry Specific,Secretarial
The Securities and Exchange Board of India (SEBI) on April 16, 2020, has decided to extend the due date
for the regulatory filings and compliance requirements by their trading members or clearing members due
to COVID-19 pandemic and extended lockdown period.
The following compliances are:-
1. Client Funding Reporting referred under SEBI letter dated July 16, 2004 has been extended till May 31, 2020.
2. Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications referred under SEBI/HO/MIRSD/DOS2/CIR/P/2019/10 dated January
4, 2019, has been extended till May 31, 2020.
3. Compliance certificate for Margin Trading for CM Segment referred under CIR/MRD/DP/54/2017 dated June 13, 2017, has been extended till June
30, 2020.
4. Risk based supervision has been extended till June 30, 2020.
5. Internal Audit Report for half year ending (HYE) March 31, 2020, has been extended till June 30, 2020.
6. System Audit Report (Algo) referred under CIR/MRD/DP/ 16 /2013 dated May 21, 2013, has been extended till July 31, 2020.
7. System Audit Report referred under CIR/MRD/DMS/ 34 /2013 dated November 6, 2013, has been extended till July 31, 2020.
8. Net worth certificate in Margin Trading for CM Segment for HYE March 31, 2020, referred under SEBI/MRD/SE/SU/Cir-15/04 dated March 19, 2004,
has been extended till June 30, 2020.
9. Net worth certificate for all members for HYE March 2020 referred under SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/ 95 dated September 26, 2016, has
been extended till June 30, 2020.
10. Penalty for non-collection or short collection of upfront margins in cash segment referred under CIR/HO/MIRSD/DOP/CIR/P/2019/139 dated
November 19, 2019, has been extended till May 17, 2020. The provision was effective from April 01, 2020 till May 17, 2020.
11. Maintaining call recordings of orders/instructions received from clients referred under SEBI/HO/MIRSD/DOP1/CIR/P/2018/54 dated March 22, 2018
has been extended till May 17, 2020. The relaxation will be effective from March 23, 2020 till May 17, 2020 with respect to trading members working
from designated alternate locations.
[SEBI Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/61]
View the Document

SEBI relaxes the time period for activities carried out by the depository participants,
stock brokers, share transfer agent or issuer till May 17, 2020
Apr 16, 2020 | Central | Industry Specific,Secretarial
The Securities and Exchange Board of India (SEBI) on April 16, 2020, has decided to extend the due date
for the activities carried out by the depository participants, stock brokers, share transfer agent or issuer.
SEBI had received various representations received from the Depositories regarding relaxation in
compliance due to the current situation of COVID-19 pandemic and extended lockdown period.
Thus, the period beginning from March 23, 2020 till May 17, 2020 shall be excluded for computing the
existing timelines specified in Regulation 74(4) and 74(5) of SEBI (Depositories & Participants)
Regulations, 1996.
The followings are the relaxation provided:-
• Processing of the demat request form by Issuer / RTA provided under the Regulation 74 (5) of SEBI (Depositories & Participants) Regulations, 2018,
has been extended from March 23, 2020 till May 17, 2020.
• Processing of the demat request form by the Participants provided under the Regulation 74 (4) of SEBI (Depositories & Participants) Regulations,
2018, has been extended from March 23, 2020 till May 17, 2020.
• KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days referred under SEBI circular
no. MIRSD/Cir26/2011 dated December 23, 2011, has been extended from March 23, 2020 till May 17, 2020.
The time period of 15 days are allowed to the SEBI registered intermediary after May 17, 2020, to clear
the back log.
[SEBI Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/62]
View the Document

Secretarial
BSE extends the due date of submission of audit report on quarterly basis
Apr 16, 2020 | Central | Secretarial
The Bombay Stock Exchange (BSE) on April 14, 2020, has decided to extend the date of submission of
Share capital Audit Report for the quarter ended March 31, 2020. SEBI had decided to relax the timelines
for filing Share Capital Audit Report for the quarter ended March 31, 2020 as provided under Regulation
76 of SEBI (Depositories and Participants) Regulations, 2018 due to the sudden outbreak of COVID-19
pandemic.
Thus, all the listed entities are requested to file the said report for the quarter ended March 31, 2020 by
May 31, 2020.
[Circular No. LIST/COMP/1/2020-21]
View the Document
MCA discontinues the Company Affirmation of Readiness towards COVID-19 Form
The Ministry of Corporate Affairs (MCA) on April 14, 2020, notifies that the Company Affirmation of
Readiness towards COVID-19 Form shall be discontinued with effect from April 14, 2020. MCA had
deployed the web form for companies and LLPs to confirm their readiness to deal with COVID-19 threat,
filed by the authorized signatory of Companies from anywhere. Now, MCA has decided to discontinue the
web form from April 14, 2020 onwards.
View the Document

MCA issues institutional framework for regulation and development of valuation
professionals
The Ministry of Corporate Affairs (MCA) on April 14, 2020, has set up an eight member Committee of
Experts to examine the need for institutional framework for regulation and development of valuation
professionals and has prepared a Draft Valuers Bill, 2020. The framework would provide for adequate
transparency, accountability and governance norms for the Institute and Valuation Professional
Organisation (VPOs) and also conduct of Valuers.
The institutional framework should have three primary objectives:-
(i) development and regulation of the valuation profession;
(ii) development and regulation of market for valuation services; and
(iii) protection of interest of the users of valuation services.
The framework should not be limited to valuations under the Companies Act, 2013 and the Insolvency
and Bankruptcy Code, 2016, as are presently covered under the Valuation Rules.
The Institutes would register and regulate Valuer Institutes and offer courses and conduct internal
examinations. It ensures high-quality education, by laying down syllabus of courses and standards for
education and examination and incentivising research and publication.
MCA invites public comments, if any, on the draft Valuers Bill, 2020 from the stakeholders. The comments
may be sent by email at tharvinder-upsc@goc.in by end of the business hours of May 14, 2020. The full
draft may be accessed at MCA website.
View the Document
SEBI notifies that capital and debt market services shall remain in force till May 03,
2020
The Securities and Exchange Board of India (SEBI) on April 15, 2020, notifies that various entities to
provide capital and debt market services shall remain in force in all parts of the country upto May 03,
2020. The Ministry of Home Affairs on April 15, 2020 has revised guidelines on the measures to be taken
for containment of COVID-19 in the country and directed that these measures will continue to remain in
force upto May 03, 2020.
Accordingly, SEBI Notification dated March 24, 2020 notifies that capital and debt market services notified
by SEBI shall be exempted from closure and shall remain in force till May 03, 2020. The Head office,
regional offices and local offices of SEBI shall function with minimum number of employees.
[Circular No.: SEBI/HO/MIRSD/RTAMB/CIR/P/2020/60]
View the Document

MCA issues clarification regard to filing under the IEPFA (Accounting, Audit, Transfer
and Refund) Rules
The Ministry of Corporate Affairs (MCA) on April 13, 2020, issues relaxation with regard to filing of various
IEPF e-forms and e-verification of claims till September 30, 2020. MCA had received representations from
various stakeholders finding difficulties in procedures related to transfer of money remaining unpaid or
unclaimed for a period of seven years under Companies Act, 2013 and Investor Education and Protection
Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 due to the outbreak of COVID-19
pandemic.
Keeping it in view, MCA had already allowed filing in MCA-21 registry without additional fees till
September 30, 2020 vide General Circular No. 11/2020 dated March 24, 2020 and General Circular No.
12/2020 dated March 30, 2020. Now, relaxation in filing of various other IEPF e-forms such as IEPF-1,
IEPF-1A, IEPF-2, IEPF-3, IEPF-4, IEPF-7 and e-verification of claims filed in IEPF-5 has also been
provided.
The stakeholders are requested to plan other actions accordingly.
[General Circular NO. 16/2020]
View the Document
MCA extends the date of submitting the draft Companies (CSR Policy) Amendment
Rules, 2020
The Ministry of Corporate Affairs (MCA) on April 09, 2020, has extended the last date of submission of
public comments on the draft Companies (Corporate Social Responsibility Policy) Amendment Rules,
2020. The draft was issued on March 13, 2020 inviting public comments on the draft Companies (CSR
Policy) Amendment Rules, 2020 till March 28, 2020 which was further extended by April 10, 2020.
Now, the MCA has extended the date of submission of the draft till April 20, 2020 considering the
lockdown due to COVID-19 pandemic. The public comments on the draft may be accessed at the web
link http://feedapp.mca.gov.in/csr/. The stakeholders may please note that comments should not be sent
separately through e-mail or hard copy and should be sent only through the web link created for the
purpose.
View the Document

MCA issues FAQs on Corporate Social Responsibility expenditure related to COVID-19
activities
The Ministry of Corporate Affairs (MCA) on April 10, 2020, sets out Frequently Asked Questions (FAQs)
and clarifications on Corporate Social Responsibility (CSR) expenditure related to COVID-19 activities.
MCA had received representations from various stakeholders seeking clarifications on eligibility of CSR
expenditure.
MCA sets out the following clarifications:-
1. The clarification made to ‘PM CARES Fund’ shall qualify as CSR expenditure under item no (viii) of
Schedule VII of the Companies Act, 2013.
2. ‘Chief Minister’s Relief Fund’ or ‘State Relief Fund for COVID-19’ is not included in Schedule VII of the
Companies Act, 2013 and therefore any contribution to such funds shall not qualify as admissible CSR
expenditure.
3. Contribution made to State Disaster Management Authority to combat COVID-19 shall qualify as CSR
expenditure.
4. It is clarified that spending CSR funds for COVID-19 related activities shall qualify as CSR expenditure.
It is further clarified that funds may be spent for various activities related to COVID-19 relating to
promotion of health care including preventive health care and sanitation, and disaster management.
5. It is clarified that the payment of salary or wages to employees and workers during the lockdown period
shall not qualify as admissible CSR expenditure. Also, the payment of wages to temporary or casual or
daily wage workers shall not count towards CSR expenditure.
6. It is clarified that the ex-gratia payment is made to temporary / casual workers/ daily wage workers over
and above the disbursement of wages, specifically for the purpose of fighting COVID 19, the same shall
be admissible towards CSR expenditure.
[General Circular No. 15 /2020]
View the Document

MCA issues clarification on passing of ordinary and special resolutions by companies
The Ministry of Corporate Affairs (MCA) on April 08, 2020, issues clarification on passing of ordinary and
special resolutions by companies under the Companies Act, 2013 on account of the threat of COVID-19
pandemic. MCA had representations from stakeholders for providing relaxations in the provisions of the
Companies Act, 2013 or rules made thereunder to allow companies to pass ordinary and special
resolutions of urgent nature. It has been noted that Section 108 and Section 110 does not contain any
specific provision for allowing conduct of members’ meetings through video conferencing (VC) or other
audio visual means (OAVM). Due to the pandemic caused by CIVID-19 across the country, the
companies are requested to take all decisions of urgent nature requiring the approval of members through
the mechanism of postal ballot or e-voting, without holding a general meeting which requires physical
presence of members at a common venue.
Thus, MCA has given following clarifications while holding a extraordinary general meeting (EGM) by any
company on or before June 30, 2020:-
A. For companies which are required to provide the facility of e-voting under the Act, or any other
company which opted for such facility-
1) The EGMs may be held through VC or OAVM and the recorded transcript shall be maintained in
safe custody by the company. And in case of a public company, the recorded transcript shall be
made available on the website of the company.
2) The meeting through VC or OAVM facility allows two way teleconferencing or webex must ensure
ease of participation of the members and the participants are allowed to question concurrently and
sufficient time is given to submit questions in advance on the email address of the company. Such
facility must have a capacity to allow atleast 1000 members to participate on a first-come-served
basis.
3) The facility for joining the meeting shall be kept open at least 15 minutes before the time
scheduled to start the meeting.
4) The facility of remote e-voting shall be provided before the actual date of the meeting.
5) The attendance of members through VC or OAVM shall be counted.
6) The members who are present in the meeting through VC or OAVM facility and have not cast their
vote on resolutions through remote e-voting, shall be allowed to vote through e-voting system or by
show of hands in the meeting.
7) The Chairperson shall be appointed by a poll conducted through the e-voting system during the
meeting, and where there are less than 50 members present at the meeting in accordance with
Section 104.
8) There proxy of members is not allowed.
9) At least one independent director and the auditor or his authorized representative, shall attend the
meeting through VC or OAVM.

10) Where institutional investors are members of the company, they must be encouraged to attend
and vote the meeting through VC or OAVM.
11) The notice for the general meeting shall make disclosures with regard to the manner in which
framework provided in the Circular shall be available for use by the members and shall contain
instructions on how to access and participate in the meeting.
12) All resolutions passed in accordance with this mechanism shall be filed with the Registrar of
companies within 60 days of the meeting, mentioning the mechanism provided herein alongwith
other provisions of the Act and Rules were duly complied with during such meeting.
B. For companies which are not required to provide the facility of e-voting under the Act-
1) The company shall provide a designated email address to all members at the time of sending the
notice of meeting so that the members can convey their vote, when poll is required to be taken during
the meeting on any resolution at such designated email address.
2) The confidentiality of the password and other privacy issues associated with the designated email
address, shall be strictly maintained by the company at all times.
3) During the meeting held through VC or OAVM facility, where a poll on any item is required, the
members shall cast their vote on the resolutions only by sending emails through their email
addresses which are registered with the company.
4) Where less than 50 members are present in the meeting, the Chairman may decide to conduct a
vote by show of hands, unless a demand for poll is made by any member.
5) In case the counting of votes requires time, the said meeting may be adjourned and called later to
declare the result.
6) The other manners are followed are same as companies which are required to provide the facility
of e-voting under the Act.
The companies shall ensure that all other compliances associated with the provisions related to general
meetings are made through electronic mode.
[General Circular No. 14/2020]
View the Document

IBBI (Insolvency Professionals) (Amendment) Regulations, 2020
The Insolvency and Bankruptcy Board of India (IBBI) on March 28, 2020, notifies the IBBI (Insolvency
Professionals) (Amendment) Regulations, 2020 to further amend the IBBI (Insolvency Professionals)
Regulations, 2016.
The amendments are made in the IBBI (Insolvency Professionals) Regulations, 2016 are:-
1. In Regulation 7(2)(ca) related to “Certificate of registration” stating that the insolvency professional
shall pay to the Board, a fee calculated at the rate of 0.25% of the professional fee earned for the
services rendered by him as an insolvency professional in the preceding financial year, on or before the
30th of April every year, along with a statement in Form E of the Second Schedule. But for the financial
year 2019-2020, an insolvency professional shall pay the fee under this clause on or before June 30,
2020.
2. In Regulation 13(2)(b) related to “Recognition of Insolvency Professional Entities”, the insolvency
professional entity shall inform the Board, within 7 days, when an individual ceases to be its director or
partner, as the case may be, in Form F of the Second Schedule along with a fee of Rs. 2000/-. The
insolvency professional entity shall inform the Board within 30 days of such cessation when an
individual ceases to be its director or partner, on and from the date of commencement of the IBBI
(Insolvency Professionals) (Amendment) Regulations, 2020 and ending on December 31, 2020.
3. In Regulation 13(2)(c), the insolvency professional entity shall inform the Board, within 7 days, when
an individual joins as its director or partner, as the case may be, in Form F of the Second Schedule
along with a fee of Rs. 2000/-. Provided that when an individual joins as its director or partner, then the
insolvency professional entity shall inform the Board, within 30 days of such joining.
4. In Regulation 13(2)(ca), the insolvency professional entity shall pay to the Board, a fee calculated at
the rate of 0.25% of the turnover from the services rendered by it in the preceding financial year, on or
before April 30 every year, along with a statement in Form G of the Second Schedule. Provided that for
the financial year 2019-2020, an insolvency professional entity shall pay the fee under this clause on or
before June 30, 2020.
These Notification shall come into force on March 28, 2020.
[Notification No. IBBI/2019-20/GN/REG057]
View the Document

SEBI grants temporary relaxation in processing of documents pertaining to FPIs
The Securities and Exchange Board of India (SEBI) on March 30, 2020, has decided to grant temporary
relaxation in processing of documents pertaining to Foreign Portfolio Investors (FPIs) due to COVID-19.
SEBI had issued operational guidelines for FPIs and Designated Depository Participants (DDPs) under
the SEBI (FPI) Regulations, 2019, where the FPI applicant should submit duly signed application form
(including KYC details) and supporting documents accompanied by originals for verification and
applicable fees.
But due to the recent situation pursuant to COVID-19 pandemic, SEBI has decided to grant the following
relaxations in a situation where FPIs are not in a position to send original and/or certified documents:-
a) DDPs and Custodians may consider and process the request for registration/continuance/KYC/KYC
review and any other material change on the basis of scanned version of signed documents (instead of
originals) and copies of documents which are not certified.
b) These documents may be uploaded on KRAs. The other intermediaries may rely on said documents.
The above temporary relaxations shall be applicable till June 30, 2020. The DDPs & Custodians shall
ensure to obtain the original and/or certified documents within 30 days from the aforesaid deadline. In
case the required documents for registration/KYC are not received by said deadline, the accounts of such
FPIs shall be blocked for any fresh purchase. In case documents are still not received within 3 months of
said deadline, DDPs & Custodians shall report these cases to SEBI for appropriate action.
[SEBI Circular No. SEBI/HO/FPI&C/CIR/P/2020/056]
View the Document

SEBI issues Circular for continuation of Phase II of Unified Payments Interface with
Application Supported by Block Amount
The Securities and Exchange Board of India (SEBI) on March 30, 2020, has decided to continue the
Phase II of Unified Payments Interface with Application Supported by Block Amount due to Covid-19 virus
pandemic. SEBI vide its Circular SEBI/HO/CFD/DCR2/CIR/P/2019/133 dated November 08, 2019, the
timeline for implementation of Phase II of Unified Payments Interface was extended till March 31, 2020.
SEBI has received representations from various stakeholders to continue the Phase II of Unified
Payments Interface. The systems and processes for achieving Phase III timelines of T+3 need to be
further deliberated and finalized in light of the experience gained during one of the major IPOs that
opened and closed in the first week of March 2020.
Thus, it has been decided to continue with the current Phase II of the UPI ASBA till further notice. The
modalities for the implementation of the Phase III of the UPI ASBA shall be notified later after
deliberations with stakeholders.
[SEBI Circular No. SEBI/HO/CFD/DIL2/CIR/P/2020/50]
View the Document
MCA announces that contribution made to PM CARES Fund for COVID-19 pandemic is
eligible for CSR activity
Mar 30, 2020 | Central | Secretarial
The Ministry of Corporate Affairs (MCA) on March 03, 2020, has announced that any contribution made to
the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) for
COVID 19 pandemic shall qualify as CSR expenditure under the Companies Act 2013. The Schedule VII
of the Companies Act, 2013, enumerates the activities that may be undertaken by companies in discharge
of their CSR obligations. It provides that contribution to any fund set up by the Central Government for
socio-economic development and relief qualifies as CSR expenditure. The PM-CARES Fund has been
set up to provide relief to those affected by any kind of emergency or distress situation.
MCS has decided that the contribution made to the PM CARES Fund shall qualify as CSR expenditure.
[Office Memorandum No. CSR-05/1/2020-CSR-MCA]
View the Document

SEBI further relaxes from various compliances due to the CoVID-19 virus pandemic
The Securities and Exchange Board of India (SEBI) on March 26, 2020, has provided further relaxations
from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 and SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 dated March 19, 2020.
The timelines for certain filings are extended, as follows:
1. “Regulation 40(9) relating to Certificate from Practicing Company Secretary on timely issue of share
certificates” has been extended from April 30, 2020 to May 31, 2020.
2. “Regulation 44(5) relating to holding of AGM by top 100 listed entities by market capitalization for FY
19-20” has been extended from August 31, 2020 to September 30, 2020.
SEBI relaxes the operation of the SEBI Circular No. SEBI/HO/CFD/CMD/CIR/P/2020/12 on Standard
Operating Procedure dated January 22, 2020 on imposition of fines and other enforcement actions for
non-compliances with provisions of the LODR, the effective date of operation of which is for compliance
periods ending on or after March 31, 2020. The said circular dated January 22, 2020 shall now come into
force with effect from compliance periods ending on or after June 30, 2020.
SEBI has also decided to exempt publication of advertisements in newspapers as required under
Regulation 47 which requires publishing, in the newspapers, information such as notice of the board
meeting, financial results etc., for all events scheduled till May 15, 2020.
This Circular shall come into force with immediate effect. The Stock Exchanges are advised to bring the
provisions of this circular to the notice of all listed entities that have issued specified securities and their
material subsidiaries and also disseminate on their websites.
[SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/48]
View the Document

SEBI extends the due date of filing disclosures under SEBI (SAST) Regulations due to
COVID-19 pandemic
The Securities and Exchange Board of India (SEBI) on March 27, 2020, has decided to extend the due
date of filing disclosures under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations,
2011. The Regulations 30(1), 30(2) and 31(4) of the SEBI (SAST) Regulations, require the shareholders
to compile, collate, and disseminate information of their consolidated shareholding as on March 31, 2020,
to the company and the stock exchanges within seven working days from the end of the financial year.
These report as per the 2020 calendar are required to be filed by April 15, 2020.
Due to the spread of the COVID-19 pandemic, SEBI decides to extend the due date of filing disclosures
for the financial year ending March 31, 2020 to June 01, 2020.
This circular shall come into force with immediate effect. The stock exchanges are advised to bring the
provisions of this circular to the notice of all the stakeholders including the listed entities and also
disseminate on their websites.
[SEBI Circular No. SEBI/HO/CFD/DCR1/CIR/P/2020/49]
View the Document

MCA issues measures for companies and LLPs to address the COVID-19 treat
The Ministry of Corporate Affairs (MCA) on March 24, 2020, issues measures for companies and Limited
Liability Partnerships (LLPs) to address the COVID-19 treat.
To reduce the compliance burden and other risks, MCA issues the following measures:-
1. No additional fees shall be charged for late filing during a moratorium period from April 01 to
September 30, 2020, in respect of any document, return, statement etc., required to be filed in the
MCA-21 Registry, irrespective of its due date, which will not only reduce the compliance burden, including
financial burden of companies/ LLPs at large. It also enable long-standing noncompliant companies/ LLPs
to make a 'fresh start'.
2. The mandatory requirement of holding meetings of the Board of the companies has been extended by
a period of 60 days till next two quarters that is till September 30. Accordingly, as a onetime relaxation the
gap between two consecutive meetings of the Board may extend to 180 days till the next two quarters,
instead of 120 days as required in the CA-13.
3. The Companies (Auditor's Report) Order,2020 shall be made applicable from the financial year
2020-2021 instead of being applicable from the financial year 2019-2020 notified earlier.
4. For the financial year 2019-20, if the Independent Directors (IDs) of a company have not been able to
hold such a meeting, the same shall not be viewed as a violation. The IDs, however, may share their
views amongst themselves through telephone or e-mail or any other mode of communication, if they
deem it to be necessary.
5. The deposit repayment reserve of 20% of deposits maturing during the financial year 2020-21 before
April 30, 2020 shall be allowed to be complied with till June 30, 2020.
6. Requirement to invest or deposit at least 15% of amount of debentures maturing in specified methods
of investments or deposits before April 30, 2020, may be complied with till June 30, 2020.
7. Newly incorporated companies are required to file a declaration for Commencement of Business within
180 days of incorporation under Section 10A of the CA-13. An additional period of 180 more days is
allowed for this compliance.
8. Non-compliance of minimum residency in India for a period of at least 182 days by at least one director
of every company, under Section 149 of the CA-1 3 shall not be treated as a non-compliance for the
financial year 2019-20.
[General Circular No. 11/2020]
View the Document

MCA deployed Company Affirmation of Readiness towards COVID-19 Form
The Ministry of Corporate Affairs (MCA) on March 23, 2020, has deployed the Companies Affirmation of
Readiness towards COVID-19 Form, for companies/LLPs to confirm their readiness to deal with
COVID-19 threat, should be filed by the authorized signatory of Companies. It is a simple web form with
minimum fields and which can be filed from anywhere. There is no requirement of Digital Signature
Certificate (DSC) and does not involve payment of any fee. The Companies/LLPs are advised to use the
service with effect from March 23, 2020 onwards at the earliest convenience.
The Form may be accessed from the below mentioned link:-
“http://www.mca.gov.in/Ministry/pdf/Car_22032020.pdf”
View the Document

SEBI grants relaxation from compliance stipulations under SEBI (LODR)
The Securities and Exchange Board of India (SEBI) on March 19, 2020, has extended the timeline for
compliances under the provisions of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 due to the CoVID-19 virus pandemic. The CoVID 19 virus across the country has
resulted in many restrictions, including free movement of people, thereby hampering businesses and day
to day functioning of companies.
The timelines for certain filings are extended, as follows:
1. “Regulation 7(3) relating to compliance certificate on share transfer facility” has been extended
from April 30, 2020 to May 31, 2020.
2. “Regulation 13(3) relating to Statement of Investor complaints” has been extended from April 21,
2020 to May 15, 2020.
3. “Regulation 24A relating to Secretarial Compliance report” has been extended from May 30, 2020
to June 30, 2020.
4. “Regulation 27(2) relating to Corporate Governance report” has been extended from April 15, 2020
to May 15, 2020.
5. “Regulation 31 relating to Shareholding Pattern” has been extended from April 21, 2020 to May 15,
2020.
6. “Regulation 33 relating to Financial Results” to be filed quarterly has been extended from May 15,
2020 to June 30, 2020.
7. “Regulation 33 relating to Financial Results” to be filed annually has been extended from May 30,
2020 to June 30, 2020.
In furtherance to that it also relaxes the time gap between board meetings and Audit Committee meetings.
The board of directors (BOD) and Audit Committee of the listed entity are exempted from observing the
maximum stipulated time gap between two meetings for the meetings held or proposed to be held
between the period December 1, 2019 and June 30, 2020. However, the BOD and Audit Committee shall
ensure that they meet at-least four times a year, as stipulated under Regulations 17(2) and 18(2)(a) of the
LODR.
This Circular shall come into force with immediate effect.
[SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38]
View the Document

MCA issues advisory on preventive measure to contain the spread of COVID-19
The Ministry of Corporate Affairs (MCA) on March 19, 2020, has requested that all companies or Limited
Liability Partnerships (LLPs) to immediately implement the “Work from Home” policy due to the outbreak
of Novel Coronavirus (COVID-19). Due to the sudden outbreak of the Novel Coronavirus (COVID-19)
which has already affected over 110 countries, including India, MCA has implemented the strategic policy
decision of social distancing in order to reduce the rate and extent of the disease transmission at the
community level.
MCA has relaxed the rules with respect to meetings of Board and dispensed with the necessity of holding
physical meetings on matters relating to approval of financial statements, board reports, restructuring etc.
till June 30, 2020.
MCA has advised all companies / LLPs to put in place an immediate plan to implement the “Work from
home” policy as a temporary measure till March 31, 2020 in their headquarters and field offices to the
maximum extent possible, including by conduct of meetings through video conference or other electronic
or telephonic or computerized means. Further, even with the essential staff on duty, staggered timings
may be followed to minimize physical interaction.
Apart from this, MCA is in the process of deploying a simple web form named Company Affirmation of
Readiness towards COVID-19 (CAR) for companies/LLPs to confirm their readiness to deal with
COVID-19 threat, should be filed by the authorized signatory of Companies. The CAR-2020 shall be
deployed on March 23, 2020. All the companies or LLPs are requested to report compliance using the
above mentioned web form on March 23, 2020 instant.
View the Document
MCA announces that Board meetings would be held through video conferencing till
June 30, 2020
The Ministry of Corporate Affairs (MCA) on March 18, 2020, relaxes the requirement of holding Board
meetings with physical presence of directors under the Companies (Meetings of Board and its Powers)
Rules, 2014 for approval of the annual financial statements, Board’s report, etc. due to the outbreak of the
coronavirus (Covid-19). The Board meetings would be held through video conferencing or other audio
visual means by duly ensuring compliance of the Companies (Meetings of Board and its Powers) Rules,
2014 till June 30, 2020.
View the Document

Industry Specific
Ministry of Finance further extends the due date for renewal of health insurance policy
installment
Apr 16, 2020 | Central | Industry Specific
The Ministry of Finance on April 15, 2020, further extends the due date for renewal of health insurance
policy installment.
Due to Corona Virus disease (COVID-19) and consequent extension of lockdown period by further
nineteen days starting on and from April 15, 2020 up to May 03, 2020, Ministry of Finance amend the
Notification No. S.O.1238(E) dated April 01, 2020.
In the Notification, the words beginning with “The policy holders whose health insurance policies”, and
ends with “on which the policy falls due for renewal” has been substituted, namely:
The policy holders whose health insurance policies fall due for renewal during the period on and from
March 25, 2020 up to May 03, 2020 and who are unable to make payment of their renewal premium on
time in view of the prevailing situation in the country as a result of Corona Virus disease (COVID-19), are
allowed to make such payment for renewal of policies to their insurers on or before May 15, 2020 to
ensure continuity of the health insurance cover from the date on which the policy falls due for renewal, so
that any valid claim triggered during the grace period can be paid.
[Notification No. S.O. 1259(E)]
View the Document

Ministry of Finance further extends the due date for renewal of motor vehicle third party
insurance policy installment
The Ministry of Finance on April 15, 2020, further extends the due date for renewal of motor vehicle third
party insurance policy installment.
Due to Corona Virus disease (COVID-19) and consequent extension of lockdown period by further
nineteen days starting on and from April 15, 2020 up to May 03, 2020, Ministry of Finance amend the
Notification No. S.O.1237(E) dated April 01, 2020.
In the Notification, the words beginning with “The policy holders whose motor vehicle third party insurance
policies”, and ends with “the policy falls due for renewal”, has been substituted, namely:
The policy holders whose motor vehicle third party insurance policies fall due for renewal during the
period on and from March 25, 2020 up to May 03, 2020 and who are unable to make payment of their
renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus
disease (COVID-19), are allowed to make such payment for renewal of policies to their insurers on or
before May 15, 2020 to ensure continuity of the statutory motor vehicle third party insurance cover from
the date on which the policy falls due for renewal, so that any valid claim triggered during the grace
period can be paid.
This Notification will come into force on the date of its publication.
[Notification No. S.O. 1258 (E)]
View the Document

IRDAI advised insurers for prudent management of financial resources of the insurers
The Insurance Regulatory and Development Authority of India (IRDAI) on April 13, 2020, advises insurers
for management of financial resources of insurers to protect the interests of policyholders and provide
necessary financial security to them. The spread of Covid-19 in the country and 21-day nationwide
lockdown from 25 March 2020 to 14 April 2020 and further extension of lockdown by several State
Governments has adversely affected various sectors of the economy. IRDAI had already announced
several relaxations to prevent any disruption to the activities of the insurance industry to support the
financial sector in its activities.
In furtherance to that, the Authority advises all insurers to take following steps:
a) Board of insurers are advised to critically examine their capital availability and solvency margin as
required in the current financial year 2020-21 and devise strategies to ensure that they have adequate
capital and resources available with them;
b) To align the dividend pay-out for the FY 2019-20 so as to be in conformity with the strategy at (i) above;
and
c) Rationalize the expenses of management for the FY 2020-21
[Circular No. IRDA/F&A/CIR/MISC/089/04/2020]
View the Document

Ministry of Steel informs about the action taken or status of implementation of
proactive measures relating to COVID-19
The Ministry of Steel has taken certain actions for implementation of proactive measures relating to
COVID-19.
Action Point for Ministry of
Steel
Action Taken
COVID 19 related Advisories
issued by Ministry of Health
and Family Welfare
(MoHFW) and other
Government of India
Ministries to Steel Central
Public Sector Enterprises
(CPSEs)
1. Instructions or Guidelines issued have been/are
being disseminated to the Steel CPSEs for
compliance.
2. Steel CPSEs following social distancing in their
workplace, townships, mines, etc.
3. Steel CPSEs obtained Hospitals, Quarantine
facilities, etc. for patients/suspected cases of
COVID-19, in full preparedness.
4. Steel CPSEs have initiated for ‘Annadaan’ (feeding
of migrant workers and weaker sections of the
society) initiative in and around their areas of
operation.
5. Steel CPSEs have given wide publicity to Prime
Minister Garib Kalyan Package: Insurance Scheme
for Health Workers Fighting COVID-19 and assure
their health and other support personnel.
6. Steel CPSEs is in touch with State Government
regarding availability of oxygen at their end and their
capacity to supply oxygen.
7. Steel CPSEs give wide publicity to the Aarogya
Setu initiative through various modes.
8. whatsapp group of the Chairman/CMD, Director
(HRs/Personnel) and all Nodal officers in Steel
CPSEs involved in the fight against COVID-19 has
been formed for timely and seamless flow/sharing of
information on COVID related matters.
Steel CPSEs Hospitals,
quarantine facilities, etc. for
COVID-19
patients/suspected cases.
All details have been communicated to MoH&FW. The
details of all such facilities have also been uploaded
on MoH&FW dashboard covid19.nhp.gov.in.
Reviews undertaken at the
level of Secretary (Steel) and
Hon’ble Steel Minister (HSM)
1. Supplement Government’s efforts under Pradhan
Mantri Garib Kalyan Yojana (Annadaan) so that
poor, migrant and other weaker sections of the
society are provided with food/meals;
2. The need to continuously practice social
distancing;
3. Supplementing Government’s initiative viz.
Aarogya Setu.
4. Ensure additional contributions to PM CARES
FUND; and
5. Use of face Mask by all and production of face
masks through existing CSR initiatives by Steel
CPSEs.
Contribution to PM CARES
FUND (PMCF)
Steel CPSEs have contributed Rs.267.55 crore to
PMCF. Further, salary contribution by Steel CPSE
employees amounting to Rs.13.50 crore has also been
remitted to PMCF. Private sector steel companies
have contributed around Rs.206.38 crore to PMCF

Action taken in respect of
Ministry of Steel (Proper)
The Ministry is working with skeletal staff. Meetings
are conducted thorough Video Conference.
An appeal was circulated among the employees of the
Ministry for contributing one day salary to PM CARES
FUND.
All rooms occupied by the Ministry of Steel in Udyog
Bhawan have been sanitized and disinfected.
View the Document
NHB extends the due date for submission of various returns to the Department of
Supervision
The National Housing Bank (NHB) on April 02, 2020, has extended the due date for submission of various
returns to the Department of Supervision (DoS) under the provisions of the Housing Finance Companies
(NHB) Directions, 2010 due to the outbreak of COVID-19 pandemic.
Therefore, NHB has decided the followings:-
a) extend the due date of all monthly returns, which will become due for submission upto June 30, 2020,
for a further period of 15 days from the prescribed due date of submission of the returns respectively; and
b) extend the due date of all quarterly, half-yearly and annual returns, which will become due for
submission upto June 30, 2020, for a further period of 30 days from the prescribed due date of
submission of the returns respectively.
The above extension will not be applicable to returns or information which are to be reported as-and-when
basis. The HFCs capable of submitting the returns earlier on best effort basis may continue to do so.
[NHB Circular No. NHB(ND)/ DoS/DMC.02.04.2020/2019-20]
View the Document

UGC issues measure for mental health, psychosocial aspects and well-being of
students
The University Grants Commission (UGC) on April 05, 2020, issues measure for mental health,
psychosocial aspects and well-being of students in order to reassure the student community to avoid
stress or panic in the situation of COVID-19 pandemic.
The Universities and Colleges are requested to take the following measures:-
• Set up help line for mental health, psychosocial concerns and well-being of students in
Universities/Colleges to be regularly monitored and managed by Counsellors and other identified faculty
members.
• Regular mentoring of students through interactions, and appeals or letters by the universities or colleges
to remain calm and stress free.
• Form COVID-19 help group of students, headed by hostel wardens or senior faculty who can identify
classmates in need .
• Video links to be shared on the University or College website, and with students and faculty via e-mail
through social media.
The implementation of the above measures may be regularly monitored and actions taken in this regard
may be submitted on the University Activity Monitoring Portal of UGC.
[Notice No. 1-1/2020(Secy)]
View the Document

IRDAI issues moratorium on repayment of term loans
The Insurance Regulatory and Development Authority of India (IRDAI) on April 08, 2020, has decided to
reschedule the term loans due to the outbreak of COVID-19 pandemic. IRDAI had received
representations from industry associations seeking moratorium on repayment of term loans sanctioned by
the Insurers.
Thus, the Authority in reference to the RBI directions has given the following instructions:-
a) In respect of term loans, insurers are permitted to grant a moratorium of three months towards payment
of instalments falling due between March 01, 2020 and May 31, 2020. The repayment schedule for such
loans and residual tenor, will be shifted across the board by 3 months subsequent to the moratorium
period.
b) Interest shall continue to accrue on the outstanding portion of the term loans during such moratorium
period.
c) The asset classification of term loans which are granted relief shall be determined on the basis of
revised due dates and revised repayment schedule.
d) The rescheduling of payments, including interest, will not qualify as a default for the purpose of
reporting of NPAs.
e) Insurers shall frame Board approved policies to extend above mentioned reliefs to all eligible
borrowers.
f) Concurrent Auditors in their reports for the quarter ending June, 2020 shall confirm that the insurers
have complied with the Board Approved policy in granting moratorium.
[Circular No. IRDA/F&I/CIR/INV/085/04/2020]
View the Document

MNRE extends the effective dates for Solar PV modules and Cells
The Ministry of New and Renewable Energy (MNRE) on April 07, 2020, has decided to extend the
effective dates for ALMM List-I (Solar PV Modules) and ALMM List-II (Solar PV Cells) till September 30,
2020 due to the outbreak of COVID-19 pandemic and current lockdown across the country.
On January 02, 2019, the Approved Models and Manufacturers of Solar Photovoltaic Modules
(Requirements for Compulsory Registration) Order, 2019 was issued to provide enlistment of eligible
models and manufacturers of Solar PV cells and modules complying with the BIS Standards. The ALMM
Order stipulated that after March 31, 2020, all Government, Government assisted Projects, Projects under
Government Schemes and Programmes, installed in the country, including projects set-up for sale of
electricity to Government shall have to source their modules from models and manufacturers included in
ALMM List-I. Further for the deployment of modules after March 31, 2020, the Solar PV modules have to
mandatorily source solar cells from the manufacturers enlisted in ALMM List-II.
However, due to COVID-19 pandemic, the effective dates for ALMM List-I and List-II has been extended
by six months that is from March 31, 2020 to September 30, 2020.
[Office Memorandum No. 283/54/2018-GRID SOLAR]
View the Document
AICTE issues Notification related to non-payment of salary of faculty
The All India Council for Technical Education (AICTE) on April 09, 2020, has requested all the institutions
to pay the salary of faculties and staffs in time. AICTE had received complaints from stakeholders that
some of the institutions had not paid the salary of faculty and staff for the month of March, 2020 and
February 2020.
Due to the outbreak of COVID-19 pandemic which leads to lockdown all across the country, non payment
of salary to staff may lead to starvation and stress to families as well as staff members, thus, it is
requested to all the institutions to kindly ensure that the salary of faculty and staff is released in time.
View the Document

IRDAI extends the due date of filing of Regulatory Returns by 30 days
The Insurance Regulatory and Development Authority of India (IRDAI) on April 09, 2020, has decided to
give additional time for filing Regulatory Returns to all insurance intermediaries due to the outbreak of
COVID-19 pandemic. In furtherance to the IRDAI Press Release dated March 23, 2020, the filing of
Half-Yearly, Yearly Returns and Cyber Security Audit as at March 31, 2020, has been extended by thirty
days.
It is to be noted that this time is granted in addition to the time normally available for filing of above
returns.
[Circular No. IRDAI/INT/Cir/Misc/ 087/04/2020]
View the Document
IRDAI issues additional time allowed for filing Regulatory Returns
The Insurance and Regulatory and Development Authority of India (IRDAI) on April 04, 2020, provides
additional time for filing of regulatory returns due to the breakdown of COVID-19 pandemic in furtherance
of Circular No. IRDAI/ INSP/ CIR/ MISC/ 077 /03/2020 dated March 30, 2020.
An additional time is granted for filing the following regulatory returns as at March 31, 2020:-
a) Monthly Returns : 15 days
b) Quarterly, Half-Yearly and Yearly Returns : 30 days
c) Cyber Security Audit : 30 days
The above-mentioned time is granted in addition to the time normally available for filing the above returns.
[Circular No. Ref: IRDAI/Life/Cir/Misc/079/04/2020]
View the Document

IRDAI issues additional period for life insurance policies
The Insurance and Regulatory and Development Authority of India (IRDAI) on April 04, 2020, has issued
a Circular for providing additional grace period for life insurance policies in addition to Circular No.
IRDA/Life/Cir/Misc/072/03/2020 dated March 23, 2020. The Authority had received several
representations from Life Insurers and the Life Insurance Council expressing difficulties being faced by
policyholders due to nationwide three weeks lockdown and social distancing norms for COVID-19
pandemic.
Thus, the life insurance policies whose premiums fall due in March and April 2020, an extension of 30
days has been provided. The situation where the unit linked policies mature and fund value is to be paid
in lumpsum, the life insurers may offer settlement options in accordance with Regulation 25 of IRDA
(Linked Insurance Products) Regulations, 2013. This onetime option is regardless of whether such option
exists or not in the specific product. The life insurers however, have to exercise all due care and diligence
to explain clearly the possible downside risk of continued fluctuation of fund value based on daily NAV
and clear consent has to be obtained from the policyholder. This is allowed for unit linked policies
maturing up to May 31, 2020.
[Circular No. IRDAI/Life/Cir/Misc/078/04/2020]
View the Document

IRDAI relaxes the premium payment for renewal of motor third party insurance polices
The Insurance Regulatory and Development Authority of India (IRDAI) on April 02, 2020, has given
relaxation on the premium payment for renewal of motor third party insurance polices due during the
lockdown period as a result of COVID-19 pandemic. The policyholders whose motor vehicle third party
insurance policies is due and are unable to make payment of their renewal premium during the lockdown
period that is in between March 25, 2020 to April 14, 2020, are allowed to make premium payment for
renewal of policies to their insurers on or before April 21, 2020 to ensure continuity of the statutory motor
vehicle third party insurance cover.
Additional points in this regard are:
• Renewal premium shall be paid by policyholders for the entire period of 12 months from the date it was
due, on or before April 21, 2020.
• Insurers need to immediately communicate these details to the concerned policyholders via email, SMS,
telephonic call, website display etc. to correctly depict the above information.
• Other related parties including agents and intermediaries should aware of the last date for premium
payment.
• Once the premium payment is done by the policyholder, it must be ensured by the insurer that the period
of policy cover commences from the date of renewal was due without any break in the policy period,
provided that such renewal fell within the lockdown period.
• Insurers must also ensure that sufficient measures are taken to ease the payment process for
policyholders, post the lock-down period.
[Ref. No: IRDA/NL/CIR/MOT/079/04/2020]
View the Document

Covid19 Compliance Updates Newsletter April 2020 by Avantis RegTech

Covid19 Compliance Updates Newsletter April 2020 by Avantis RegTech

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